Wednesday, October 30, 2013
The Cajun Express drilling rig is being mobilized to Senegal to drill the first of two wells for Cairn Energy and FAR Ltd. A statement issued by FAR said the company anticipates that the first of the two wells will spud in the middle of Q1 2014.
FAR managing director, Cath Norman, said, “Excellent progress is being made in preparation for FAR’s two potentially company making exploration wells in Senegal. FAR transferred operatorship to Cairn in August 2013, and since then well site surveys and a rig maintenance program have been completed. Based on FAR’s current schedule, we anticipate the first Senegal well will spud in mid Q1 2014. The two wells to be drilled offshore Senegal early in 2014 will be testing approximately 1.5 billion barrels of prospective resources1 and offers FAR shareholders significant growth potential.”
The two back-to-back exploration wells, expected to start drilling in February 2014, will target approximately 1.1 billion barrels of unrisked prospective resources. The wells will test a ‘shelf’ play and deeper water ‘fan’ play. Both prospects have significant follow-up drilling potential in the event of a discovery. The three contiguous Senegalese blocks, Rufisque, Sangomar, and Sangomar Deep cover 7,490 sq km and have significant exploration potential.
From 2,050 sq km of modern 3D seismic data acquired in the blocks, FAR has identified a number of play types including the “fan” and “shelf” plays and has mapped 11 potentially drillable prospects as well as numerous other leads, many supported by associated seismic amplitude responses.